logo
Share SHARE
FONT-SIZE Plus   Neg

CDI Corp. To Explore Strategic Alternatives

CDI Corp. (CDI), a provider of engineering and information technology talent, project and managed services, said that it has initiated a process to identify and evaluate strategic alternatives to maximize stockholder value.

As part of this process, it has engaged Houlihan Lokey, investment banking firm, as financial advisor to assist it in exploring a potential sale of the Company. Strategic alternatives will be evaluated in combination with the Company's ongoing transformation that focuses on disciplined operations and sales effectiveness.

The company is executing several enterprise-wide programs to drive revenue through deeper penetration of existing clients and industry verticals, acceleration of higher-end IT services, and unification of its operating platform to create enhanced effectiveness and operating leverage.

In connection with this review of strategic alternatives, the Company will be moving its Annual Shareholder Meeting to the fourth quarter of this year in order to allow the process to be concluded and to allow shareholders to act with the benefit of knowing the results of this effort.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Alteryx, Inc., a provider of self-service data analytics software, is the latest tech company to go public in March. Alteryx said it has priced its IPO of 9 million shares of its Class A common stock at $14 per share, at the top end of its range of $12 to $14 per share. Dunkin' Donuts is bidding adieu to one of its frozen coffee beverages this summer. However, loyal fans of the decades-old menu staple have not taken kindly to the news. The coffee chain said it will discontinue its popular Coffee Coolatta beverage this summer and instead, introduce the new Frozen Dunkin' Coffee, made with coffee extract, sugar and milk. Canadian pipeline operator Enbridge Inc. said it will cut about 1,000 jobs, or six percent of its workforce, following the completion of its acquisition of Houston-based Spectra Energy Corp. The job cuts will take place across the merged company.
comments powered by Disqus
Follow RTT